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Property profile & analytics
OFF-MARKET
Estimated value
$1,825,000
Industrial land
2213 Commerce Pkwy Virginia Beach, VA 23454-4347
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-0943622
Property profile
Verified
Property type
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Year built
1954
Total area
42,541 SF
Lot
18.24 ac (794,752 SF)
Zoning code
B2
APN
24070486460000
UPID
US87-0943622
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.80M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.83M
Owner & transaction history
London Bridge Development LLC · 3 yrs held
London Bridge Development LLC
since 2023
Last sale
$1.8M
3 recorded transactions
Zoning & alternative use
B2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the B-2 Community Business District is to provide land needed for community wide business establishments. This district is intended for general application in the city. It is intended that, by the creation of this district, business uses will be geographically concentrated.
Zone name
Community Business
General category
COMMERCIAL
Source
Realmo
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Virginia Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Virginia Beach submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,850,000
ML approach
$1,795,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.83M
Range $1.64M – $2.01M · ±10% · vs last sale $1.82M (May 18 2023)
Last sale anchor
$1.82M
May 18 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$43 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$12,011
Tax year 2024
Assessed value
$1,238,200
Assessed 2024
Previous assessed
$1,238,200
+0.0% YoY
Effective rate
0.97%
On assessed value
Assessed land
$1,238,200
Land market value
$1,238,200
Total market value
$1,238,200
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Status
Off-Market
Year built
1954
Heating
NONE
Stories
2
Total area
42,541 SF
Lot
18.24 ac (794,752 SF)
Zoning code
B2
APN
24070486460000
UPID
US87-0943622
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
B2 · Virginia Beach, VAZoning B2 · permitted uses
B2 · Virginia Beach, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the B-2 Community Business District is to provide land needed for community wide business establishments. This district is intended for general application in the city. It is intended that, by the creation of this district, business uses will be geographically concentrated.
Zone name
Community Business
General category
COMMERCIAL
Source
Realmo
Building & site characteristics
From public records
Year built
1954
Heating
NONE
Stories
2
Lot
18.24 ac
Current owner
From public records · entity-resolved
London Bridge Development LLC
Entity
Free & Clear · 3 yrs held
Mailing address
588 CENTRAL DR, VIRGINIA BEACH, VA 23454-5296
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 18, 2023
$1,824,000
London Bridge Development LLC
City Of Virginia Beach Dev Authorit
Deed
—
May 18, 2023
—
City Of Virginia Beach Dev Authorit
City Of Virginia Beach
Deed
—
Oct 27, 2011
—
City Of Virginia Bch
130 London Bridge LLC
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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